Kumho Construction Wins 600 Billion KRW Namyangju Wangsuk Public Housing Project

Kumho Construction announced on July 8 that it has been selected as the preferred bidder for the Namyangju Wangsuk Public Housing District private participation public housing construction project, which has a total construction cost of 600 billion KRW.

The Namyangju Wangsuk Phase 3-2 private participation public housing construction project is being carried out in the Namyangju Wangsuk District, the largest of the third-generation new towns. In this project, Korea Land and Housing Corporation (LH) contributes land it owns, while the private sector is responsible for constructing and selling the housing units.

Aerial view of Wangsuk 2 District A-1 Block. Provided by Kumho Construction

The total project cost is approximately 598.6 billion KRW. Kumho Construction will participate as the consortium leader with a 52.5% stake and will oversee the entire project. Isu Construction, BS Hanyang, and ESI will join as co-developers.

The project sites are Wangsuk 2 District A-1 Block and Wangsuk 1 District PM-3 Block. A total of 812 public sale housing units will be built in A-1 Block, and 1,391 integrated public rental housing units will be constructed in PM-3 Block. Construction of A-1 Block is scheduled to begin in December 2025, with completion targeted for September 2028. Construction of PM-3 Block is planned to start in December 2027 and be completed by July 2030. Kumho Construction has decided to apply its new residential brand 'ARTERA' to this project.

The A-1 Block, which will be developed as public sale housing, is adjacent to a planned elementary school site, offering an excellent educational environment for families with children. In addition, it will provide outstanding access to Seoul and the greater metropolitan area through connections to the wide-area transportation network. The plan also includes eco-friendly and smart design features to create a safe residential environment.

The PM-3 Block will include integrated public rental housing as well as a public complex facility equipped with self-sustaining functions such as a startup support center. This integrated development model is attracting attention for encompassing residential, employment, and local economic revitalization functions.

A Kumho Construction representative stated, "Being selected as the preferred bidder recognizes Kumho Construction's technical expertise and stable project execution capabilities in private participation public housing projects," adding, "Through collaboration with LH, we will successfully create a high-quality public housing complex that also features self-sustaining functions."

This content was produced with the assistance of AI translation services.